Chart update.
I would have thought today's announcement produces the 4th wave (small retracement lower) because the short term punters will not want to wait out the "coming weeks" ahead until commercial determination. See the momentum indicator (RSI) has become a bit over-bought - this is a strong signal that a small move lower was due.
A move back to 12.5 / 13 would be good for the medium / longer term. IMO
With all 3 pumps operating efficiently though I am not sure you would want to be out in case those "coming weeks" turn into days. The next 2-3 weeks will be very interesting I suspect.
Ann: Southern Cooper Basin Gas Project Update, page-8
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